Discounted Cash Flow (DCF) Analysis Levered

CHS Inc. (CHSCM)

$25.65

+0.16 (+0.63%)
All numbers are in Millions, Currency in USD
Stock DCF: 3,341.22 | 25.65 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 31,900.4528,406.3738,448.0347,791.6745,59050,615.4156,194.7662,389.1369,266.3176,901.56
Revenue (%)
Operating Cash Flow 1,139.931,087.23757.811,946.523,284.182,090.262,320.672,576.482,860.493,175.80
Operating Cash Flow (%)
Capital Expenditure -675.31-432.86-358.72-379.21-781.94-716.95-795.98-883.72-981.13-1,089.28
Capital Expenditure (%)
Free Cash Flow 464.62654.37399.101,567.312,502.251,373.311,524.691,692.761,879.352,086.51

Weighted Average Cost Of Capital

Share price $ 25.65
Beta 0.000
Diluted Shares Outstanding 12.29
Cost of Debt
Tax Rate 5.35
After-tax Cost of Debt 5.31%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.259
Total Debt 2,698.53
Total Equity 315.24
Total Capital 3,013.77
Debt Weighting 89.54
Equity Weighting 10.46
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 31,900.4528,406.3738,448.0347,791.6745,59050,615.4156,194.7662,389.1369,266.3176,901.56
Operating Cash Flow 1,139.931,087.23757.811,946.523,284.182,090.262,320.672,576.482,860.493,175.80
Capital Expenditure -675.31-432.86-358.72-379.21-781.94-716.95-795.98-883.72-981.13-1,089.28
Free Cash Flow 464.62654.37399.101,567.312,502.251,373.311,524.691,692.761,879.352,086.51
WACC
PV LFCF 1,305.431,377.691,453.951,534.421,619.36
SUM PV LFCF 7,290.84

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.20
Free cash flow (t + 1) 2,096.95
Terminal Value 44,615.90
Present Value of Terminal Value 34,626.69

Intrinsic Value

Enterprise Value 41,917.53
Net Debt 853.94
Equity Value 41,063.59
Shares Outstanding 12.29
Equity Value Per Share 3,341.22